Cole Skinner 28 November 2011 Econ 103 Policy Application Essay “The Oil Industry Doesn’t Own the Sun” Word Count: 951 Solar Power – Allocation of resources & efficiency In today’s climate of growing energy needs‚ it is imperative to find sources of renewable or limitless energy. There is a plentiful amount of fossil fuels‚ including coal‚ natural gas‚ and oil. It remains to been seen however‚ if these resources can be depended on in the
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value of nuclear power difficult. The author proposes that all forms of energy incorporate their full costs including climate impacts‚ risk of accidents and the safe disposal of waste to determine their true value rather than considering them externalities. Robert Costanza is a University Professor of Sustainability and Director of the Institute for Sustainable Solutions at Portland State University. He is also the cofounder and former president of the International Society for Ecological Economics
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Question 1 5 out of 5 points The statement‚ "John buys more of good X as his income increases‚ Ceteris paribus‚" means: Selected Answer: Correct the price of this good is being allowed to change. Answers: John ’s income is being held constant. John ’s purchases of good X are being held constant. John ’s income and purchases of this good are being held constant. Correct the price of this good is being allowed to change. Question 2 5 out of 5 points Economists use models to: Selected
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used to give support to the movement of freight and people. In any developed economy‚ a considerable sum of social capital is usually set aside to develop the transport infrastructure. Transport infrastructure generates both negative and positive externalities. Investments made in the local transport infrastructure are seen as the primary stimulus for the regional economic development. This is seen when roads unlock employment opportunities and market that can benefit the third parties which may include
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ABSTRACT Nowadays‚ many social scientists agree that social capital is present and positively contributes to economic growth in the light of many studies. In other words‚ social capital is important to the efficient functioning of modern economies. It constitutes the cultural component of modern societies‚ which in other respects have been organized since the enlightenment on the basis of formal institutions‚ the rule of law‚ and rationality. Building social capital has typically been seen
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The Scope and Limitations of Environmental Taxes in a Developing Country Setting 1. Introduction This paper begins by briefly outlining the impact of development on the environment and the consequent need to mitigate further environmental damage. Economically‚ the use of environmental taxes serves as an incentive-based tax to curb behaviour that is damaging to the environment. The paper then provides a brief outline of environmental taxes. Looking specifically at ‘first tier’ emerging markets‚
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Managerial Economics Q.1.0) For each of the following events‚ assume that either the supply curve or the demand curve (not both shifted). Explain which curve shifted and indicate the direction of the shift. a.From 1950 to 1979 the wages paid to fruit pickers increased while the number of fruit pickers employed decreased. b.During the same period the price of radio sets declined‚ while the number of radio sets purchased increased. c.Housing prices are rising but more houses are sold. d.Australian
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Law‚ Corporate Objective and Social Responsibility: The Nigerian Situation Background Information Corporate associations largely influence the lives of humans and economies of nations. Confederation of British Industry rightly notes that human ‘...lifestyle is determined by the activities and the style of businesses’. [1] These businesses are in turn largely determined by the activities and styles of companies.[2] Therefore‚ the impacts of businesses and their organisations on
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Profit Maximiser MR = MC An industry can be defined from two criteria: - similarity of products - similarity of economic activities A Sport industry can be defined as a cluster of firms that: - produce sport activities - provide products and services - trade and sell products Meeks ‘3-Sector’ Model of the sport industry: Sector #1: Sports Entertainment Sector #2: Sports Products Sector #3: Sports Support Organisations Li‚ Hofacre and Mahoneys ‘2-Sector’ Model of the sport industry:
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MONOPOLY A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity (this contrasts with amonopsony which relates to a single entity’s control of a market to purchase a good or service‚ and with oligopoly which consists of a few entities dominating an industry) Monopolies are thus characterized by a lack of economic competition to produce the good or service and a lack of viable substitute goods. The verb "monopolize" refers to the process by which
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